Various market requirements may necessitate price adjustments and/or price planning decisions. The price adjustments and/or price planning decisions often must be implemented in a relatively short period of time. However, even these price adjustments are typically made based on one or more predicted results for the adjustment or price plan. For example, the effect of the price adjustments on one or more budgets may be a factor in determining whether price adjustments are allowed for a particular article or set of articles and, if so, in setting the amount of the price adjustments.
Price adjustments and planning decisions may be made using manual selection systems. Such price adjustments and planning decisions may also be made using automated pricing processes such as a slow seller management process, a markdown controlling process, a promotion process, and the like. Manual pricing selection systems are invariably separate systems from automated pricing systems. Moreover, automated pricing systems are typically tailored to perform only one type of price planning (e.g., slow seller, promotion, etc.). As a result, users of such systems must often learn how to use two or three different price planning systems and associated user interfaces to perform price planning. This can result in increased training time for such users as well as increased chances for data entry errors and other mistakes.
Thus, there is a need for an automated system and method enabling users to plan and implement price adjustments in view of predicted or actual results based on the price adjustment. There is further a need for such a system and method configured to automatically update relevant data based upon adjustments in sale prices. In addition, there is a need for a system and method configured to display actual or predicted results based on the price adjustments at the time of the price adjustments.